Mumbai: Actor and film producer Sachin Joshi, accused in money laundering and financial misappropriation case involving Omkar Realters was on Tuesday discharged by a special Prevention of Money Laundering Act (PMLA) court. Judge M.G. Deshpande while discharging Joshi said that there was no proof of Joshi having received the money.
The court has directed the investigating agency to return the confiscated passport of Joshi immediately. The Enforcement Directorate (ED) had arrested Joshi in February 2021 on charges of helping Omkar Group promoters in diverting Rs 87 crore loan taken from Yes Bank. Omkar Group Managing Director Babulal Verma and Chairman Kamalkishore Gupta were also arrested in connection with alleged financial misappropriation.
The ED had also alleged that Omkar Builders had defaulted on a loan of Rs 440 crore taken from Yes Bank. Joshi had to stay in jail for several months. Earlier, a special PMLA court had granted bail to Sachin Joshi, but the ED rushed to the High Court against this and got a stay on it. However, the PMLA court on Tuesday said that Joshi should be given parity with the other accused who have already been discharged in the case.
